Iii

riccaricca

19 WEEKS and still waiting for my cash element of my ISA to be transferred!!
All my funds have been transferred and I've even done a trade that went smoothly, so hopefully it will sort itself out.
Can anybody tell me if you get charged every time the dividends are automatically reinvested, as if that happens would it be best to reinvest say twice a year? I've got quite a few funds so I don't want to pay for each fund.

planteria

the transfer from HL to III seems to have completely stalled for me. nothing has happened for many weeks... fortunately i'm not desperate to trade, but it is a shocking process.

2shy

planteria wrote: »

the transfer from HL to III seems to have completely stalled for me. nothing has happened for many weeks... fortunately i'm not desperate to trade, but it is a shocking process.

Who would have thought when you started this thread, 5 months ago, we would all be sitting here.... still waiting..

planteria wrote: »

are there any real downsides to III?

Being out the market for 5 months +

samcrawford

For what it's worth, when I hit 18 weeks I sent in a formal complaint to III about the length of the transfer.

One week after sending it in, they'd resolved the transfer (total time: just over 19 weeks). Four weeks after sending the complaint I got a formal reply, basically saying how underprepared they were for the volume of transfers etc, but they were upholding my complaint and credited me with £40 trading credit. I was pretty happy with that, so have left it there.

lejog2003

In this thread on the ISA board it has become apparent that iii are having problems with dividend payments due to their IT services provided by a company called FNZ.

Pure speculation, but since wiki says that FNZ supply "end-to-end technology, including investment front office, tax wrappers and investment back office under a software (sic) as a service delivery model" to investment managers, I wonder if a new IT system is causing iii problems across the board.

organic_wanabe

Looks like it is not only the dividend payments but also the cash incentive promised when you transfer over to II. Mine came through fine. However, my husband has only received £10 of the £70 due. Needless to say, they have not responded to the secure message sent 11 days ago. He expects an £700-£800 dividend in August - hopefully that will appear in time for Christmas!

masonic

2shy wrote: »

Being out the market for 5 months +

But you are not out of the market if you do an in specie transfer.

I must admit, I did a fund switch over the past couple of days and it was considerably faster than I've experienced previously with II. Sell order placed early Monday morning, contract note around 06:15 the following morning.

planteria

2shy wrote: »

Who would have thought when you started this thread, 5 months ago, we would all be sitting here.... still waiting..

you make a valid point. i am amazed at how slow it has all been...and the complete lack of progress recently is incredible.

2shy wrote: »

Being out the market for 5 months +

& yes...good answer;)

planteria

samcrawford wrote: »

For what it's worth, when I hit 18 weeks I sent in a formal complaint to III about the length of the transfer.

a formal complaint by what method?

samcrawford

planteria wrote: »

a formal complaint by what method?

Secure Message. I marked it clearly as "Formal Complaint", but they ignored that at first and replied as normal (a few days later, not really addressing any of the questions). Then I insisted that they treat it as a complaint and after that it entered the proper process.

Thanks,

Sam